It's the middle of Summer here in Hawaii. We've had a plethora of cherries in the markets and I've been looking to buy when the price was right to make Christmas gifts. I need ripe, but not overripe friut but I didn't want to pay the high price of $7.00 a pound. I found some in Chinatown in Honolulu for $2.99 a pound, but that wasn't quite low enough.
Today, at Safeway in Kailua, I saw the last of the season cherries were on sale for $1.99 a pound. They were ripe but not too ripe. I drove back to the store to get them (and at $4.10 a gallon of gas!) and bought 4 pounds. If I hadn't gone by that store for something else I wouldn't have seen them. If I'd waited until tomorrow they wouldn't have been on sale (not to mention - gone).
Knowing the "fair" price ($2.99), the "high" price and the "bargain" price comes from knowing your market. Judging the "ripeness" helps determine the value of the cherrries - can I use them for my purpose.
Homes in Honolulu and on Oahu are similar in that I can tell you if a price is fair (market value), high (over the possible appraised value) or a bargain. Few bargains are found today as there is such low inventory. With rates so low and inventory low, the value of a home on market that meets your needs and pressure to raise prices is high. But you should never pay more than a "fair" price. Call me for help determining your needs and let's find the home that meets your needs. The price of cherries and homes is unlikely to fall lower.
'Scuse me, but I've gotta run; I've got cherry jam to make.